Thanks to the current volatility in the real estate market, income property has never been a better investment opportunity for cheap houses in Arizona. The Income property investor is sitting on a gold mine of cheap homes in Phoenix and the surrounding areas, with real estate cap rates regularly ranging between 10% and 20%. *Properties are also available in Scottsdale, Tempe, Mesa, Chandler, and Gilbert.*

Occupancy rates are at an all-time high and the Phoenix rental market is red hot. Cap rates regularly range between 10% and 20%, like our weekly realestate income property suggestions show below. Some properties require some work, perfect fix-and-flip investments, however some as we show below need very little or no further investment after purchase.

food for thought…

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Today’s Featured Income PropertyArea of Thomas and 16th Street Phoenix, AZ 85016

Estimated Purchase Price:$75,000PROPERTY DETAILS:Historic central Phoenix red brick home. 2 bedroom, 1 bath, approximately 1100 square feet. Very popular historic neighborhood, this home has the original tile in the kitchen and it is in excellent condition. Newer flooring and paint. The home is located in the Creighton Elementary and Phoenix Union High school districts. No HOA, very high cap rate, high potential appreciation and resale values.
Estimated Improvements Needed: $1,000
Estimated Full Cash Value: $90,000
Annual Property Taxes: $588
Estimated Monthly Rent: $1,150
Estimated Monthly Fees*: $275
CAP Rate: 14.5%
*monthly fees include estimated maintenance, property management fees, property taxes, and maintenance set-aside.

Today’s Featured Income PropertyArea of Baseline and Hardy
Tempe, AZ 85283
Estimated Purchase Price:$75,000PROPERTY DETAILS:3 bedroom, 2 bath, approximately 1200 square feet. Highly desirable Tempe location, with a new roof in 2010, and new energy efficient windows. Oak cabinets, like-new appliances, tile floors in most common areas, workshop/storage area, many updates and improvements. This home is located in the popular south Tempe area, near Arizona Mills Mall, Ikea, dining, freeways, and several large employment centers. The home is located in the Wood Elementary and Tempe Union High school districts. No HOA, very high cap rate, high potential appreciation and resale values. NOTE: this home is in rentable condition as-is and needs no improvements at this time.
Estimated Improvements Needed: $0
Estimated Full Cash Value: $95,000
Annual Property Taxes: $885
Estimated Monthly Rent: $1,200
Estimated Monthly Fees*: $300
CAP Rate: 15.5%
*monthly fees include estimated maintenance, property management fees, property taxes, and maintenance set-aside.